European Commission Communication: REPowerEU Plan

This plan has been prepared by the EU Commission and seeks to "rapidly reduce dependence on Russian fossil fuels and fast forward the green transition". It sets the Commission's specific objectives in that regard, calls for enhancing targets' ambitions, and is supported by a number of strategies and plans, such as the EU solar strategy, the EU 'Save Energy' communication and the Biomethane action plan. 

The plan notably aims to 1) improve long-term energy efficiency measures, including an increase from 9% to 13% of the binding Energy Efficiency Target under the ‘Fit for 55' package, 2) diversify supplies, 3) scale up and speeding-up of renewable energy, and 4) reduce fossil fuel consumption in industry and transport.

The plan further quantifies the investments needed to meet the targets; for the Commission, an additional investment of €210 billion between now and 2027 is required.